Ip Caloundra (Sunshine Coast) good or bad ?

J

jayek90

I am currently under contract on a duplex in caloundra perfect for location,location ,location

purchase price is $360,000

retail appraisal is 360-380 a week

what are people thoughts on growth I am looking to hold the property for 10+ years
 
I'm not trying to be smart here but isn't this a question to ask prior to signing a contract?

Is the rental appraisal from the selling agent or based on your own research?
 
it's rental appraisal but I have also lived in the area for the last 5 years and am currently paying 360 a week in rent for a duplex of the same features. The rent hasn't been put up for the last 3 years.

I am buying this property for my mother to live in for the long term and she is willing to sign a lease.

I am going to be moving into my gf parents house as they have a granny flat .

so no. not necessarily, I am just wondering people thoughts for in the future for growth?

Regards Jaye
 
Last edited:
As mentioned, might have been wiser to ask the questions before purchase.

When buying a negatively geared property you pretty much want to guarantee CG otherwise you are losing money each year for nothing. :eek:

Hope it goes well for you. But hope really isn't a good strategy.
 
Doesn't look like it would we -ve cash flow by very much after considering depreciation, good location, I love Caloundra as a future possible retirement location, don't know much about the market from an investment perspective though. Good that you are helping your mum out but it might be difficult to keep the rent at current market rate
 
That location should be fine. I was concerned you might be out in the bush somewhere with hundreds of new land releases being developed.
 
The place looks great though I've learned my lesson and won't go negative with a regional again. You might not be very negative though.
Please take down your link until settlement. Thanks for sharing it though.
 
Looks like a good buy compared to what else is on the market good central location.. I wouldn't be to worried about new developments none of them are going to be convenient located like that property. Good luck with your purchase..
 
great thanks for the help guys just have to wait and see I guess I do love the area tho hopefully can see some good growth and hopefully mum can pay market rent. she is saying she will so let's see how it plays out.

She has done a lot for me though so time to give something back
 
jayek90 said:
it's rental appraisal but I have also lived in the area for the last 5 years and am currently paying 360 a week in rent for a duplex of the same features. The rent hasn't been put up for the last 3 years.

I am buying this property for my mother to live in for the long term and she is willing to sign a lease.

I am going to be moving into my gf parents house as they have a granny flat .

so no. not necessarily, I am just wondering people thoughts for in the future for growth?

Regards Jaye
Click to expand...

There is a lot of big infrastructure projects in the pipeline for the Sunshine Coast which will offer a broader economic base than the traditional tourism/retirement market

http://qmisolutions.com.au/wp-content/uploads/2014/07/ICN_SCPUH_Case-Study_Final.pdf

There is always a lot of value to undertake some due diligence research and if you are too busy to do that you can always purchase the very reliable Terry Ryder Reports (Hotspotting) for an independence research based perspective

Warm regard

Renee and Martin
 
Jenko said:
Just wondering why take down the link?
Click to expand...


Also curious..

As Jaye has noted the property is 'under offer' therefor no longer technically on the market. Obviously the house is not considered sold until the contracts have been exchanged but unless any of the contact conditions fall through (finance, building inspection etc.) I can't see any issues with linking the property..

Although now I am curious to know if there are any options for a vendor if another potential buyer was to come along and entertain a higher offer? Im assuming things may vary from state to state but surely there are laws protecting buyer from this kind of guszumping..

Can of worms? :eek:

Ps. congrats on the purchase!
 
thanks guys, I took the post down after recieving some private messages telling me to take it down I also got a little worried when people started telling me to pull it down I thought no one can put an offer in etc. now that the contract is signed.

I am not to sure on the rules as, I am new to this whole investing thing.

I really hope no one comes along and takes it out from under me would be really disappointed
 
Once the contract is signed it's yours. You maybe able to pull out as per conditions on the contact like, subject to finance, building/pest clause, etc. But the vender is locked in and they will not beable to sell to others while you have a contract on the property. That why I asked why the link had to be removed? I'm sure if the link was left up you might get some more comments about the property good or bad that's what you were after.
 
I used to live in Caloundra and would call it a good low risk proposition for the long term. Lots of retirees in the area, still expanding and infrastructure planned. As long as you are not too -ve on cash flow and it sounds like you will be ok from the rough numbers then it looks like a good holder. Also it would be worth doing a 2% interest rate rise cash flow scenario to get a view on what it looks like if/when we eventually see rises.
 
You must log in or register to reply here.

Similar threads

T
Sunshine Coast - higher end
Replies
17
Views
3K
Sonamic
S
B
Thoughts on the Sunshine Coast?
Replies
2
Views
2K
jerryparker
J
harrywyborn
Mudgeeraba/reedy ck/merrimac/Carrara townhouse under 300k
Replies
0
Views
1K
harrywyborn
harrywyborn
D
Sunshine Coast - BellsReach/South Caloundra
Replies
1
Views
1K
moyjos
M
S
First investment property- Gold coast
Replies
19
Views
4K
Rolf Latham
R
Back
Top